NEW YORK ( TheStreet) -- Research In Motion (RIMM) said its co-CEOs Jim Balsillie and Mike Lazaridis have stepped down and been replaced by Thorsten Heins, the BlackBerry maker's chief operating officer.
"There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership. Jim and I went to the board and told them that we thought that time was now," said Lazaridis, in a statement.
Shares of RIM closed Friday at $17. The stock was rising 3.5% to $17.60 in premarket trading Monday.
Apache (APA) said Monday it agreed to buy Cordillera Energy Partners III, a privately owned oil and gas company, for $2.85 billion. Cordillera owns about 254,000 net oil and petroleum liquids fields acres in Granite Wash, Tonkawa, Cleveland and Marmaton plays in western Oklahoma and the Texas Panhandle. Apache said the deal "more than doubles" its acreage in a "highly liquids-rich fairway in the Anadarko Basin." Shares of Apache were down 0.4% to $96.80.
The world's second-largest oilfield services company Halliburton (HAL) beat analysts' estimates for fourth quarter-earnings by 1 cent a share, announcing profit from continuing operations of $1 a share, excluding an environmental-related charge. The company reported revenue of $7.1 billion in the fourth quarter, up from year-earlier revenue of $5.16 billion. Shares were slipping 0.55% to $36.
Aerospace supplier TransDigm (TDG) agreed to buy seatbelt maker AmSafe Global Holdings from private-equity firms Berkshire Partners and Greenbriar Equity Group in a deal worth $750 million in cash. The deal follows TransDigm's recent acquisition of Harco Laboratories to help increase the company's offerings in proprietary components of commercial aircrafts, as well as the acquisition of Schneller Holdings, an aircraft-laminates maker. Shares of TransDigm were down 0.4% to $97.06.
Texas Instruments (TXN), the analog chipmaker, is expected by analysts to earn 39 cents a share in the fourth quarter.
Railroad companies CSX (CSX) and Kansas City Southern (KSU) report fourth-quarter earnings on Monday. Analysts expect CSX to earn 44 cents a share; Kansas City Southern is seen earnings 79 cents.
-- Written by Joseph Woelfel and Chao Deng
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